27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
According to Reuters, Bank of America Corp (NYSE: BAC) is set to eliminate around two dozen investment banking jobs in Asia. Among those who will be let go are some of the top deal-makers in the region.
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Reuters, citing its sources, noted that the job cuts will occur at the bank's biggest centers in Asia, including Hong Kong, Singapore and Japan. The source did, however, suggest that the job cuts are part of the bank's annual cost trimming initiatives.
However, there may be reason to doubt this claim, considering Goldman Sachs Group Inc (NYSE: GS) said last week it will eliminate almost 30 percent of its investment banking team in Asia (outside of Japan), which consists of around 300 workers. Similarly, Barclays PLC (ADR) (NYSE: BCS) said in January it will lower its investment banking headcount by around 1,000 worldwide, the bulk of which will be concentrated in Asia.
On the other hand, Bank of America's CEO Brian Moynihan did set an expense target of $53 billion for 2018, $3.3 billion less than its total expenses over the past four quarters.
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This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.